Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

I don't think LG acquired or dumped yet

LG Capital dumped their shares and filed a 13G/A.

The 13G filing doesn't say that LG owns 172,927 shares of LIBED, but that it "has the right to acquire by way of conversion of a security" that number of shares, which was likely calculated based on the post-RS price and the debt NGEN/LIBED owed them as of that date.

It is stated in the filing that, at the time the filing was being filled-out by someone at LG (or their lawyers), there were only 1,857,638 outstanding shares, which would give LG 9.309% of the OS, which meant they're potentially a 5%+ beneficial owner of LIBE, and therefore had to file.

But here's the thing:

Now that CEO Carter and his pal, Cliff Rhee have converted their Series X Preferred stock into common and the OS is now 35.7M shares, LG's potential ownership of 172.9K shares reduces their share to less than 0.5%, which means that they didn't have to file a 13G.

My guess is that they (and their attorney) were covering their bases, and didn't see the Jan 15 NGEN/LIBED 8-K that announced the conversion of the Series X shares.